Large Scale Distressed Purchase

[vc_section el_class="prToptitle" css=".vc_custom_1696013490383{padding-top: 40px !important;}"][vc_row][vc_column][vc_single_image image="1801" img_size="full" alignment="center" el_class="logo100h mb-0"][/vc_column][/vc_row][/vc_section][vc_section][vc_row full_width="stretch_row_content_no_spaces" equal_height="yes" el_class="fdTopRow"][vc_column width="1/2" css=".vc_custom_1676221536790{background-color: #0d0733 !important;}" el_class="fdTopcol-left"][vc_custom_heading text="CVI Portfolio" use_theme_fonts="yes" css_animation="fadeInUp" el_class="fdSignleTitle mb-1"][vc_custom_heading text="Washington, DC Metro" font_container="tag:h4|text_align:left" use_theme_fonts="yes" css_animation="fadeInUp" el_class="fdSignleSubTitle"][vc_column_text css_animation="fadeInUp" el_class="fdSignleText"]In August of 2012, FVP, in a partnership with the Lynd Companies, purchased the CVI multifamily portfolio. The 11 asset portfolio was foreclosed upon and the Special Servicer was directly selling the distressed group of assets. The portfolio included assets in several expanding markets such as Denver and Austin. FVP identified deferred maintenance, mismanged and a degree of neglect from the previous owner which providing the opportunity to execute a property renovation and value-add scopes to stabilize the assets and enhance the value of the properties. The portfolio was acquired at a point in the real estate cycle when the distressed nature of the portfolio created a low-basis entry point for the joint venture at a time when demand for rentals was high and the anticipated rent growth was very strong. The transaction highlights FVP’s ability to work alongside its operating partners to close a multi-state, large-scale portfolio and to manage the renovation and stabilization of the overall portfolio.[/vc_column_text][/vc_column][vc_column width="1/2" el_class="fdTopcol-right imgH100"][vc_single_image source="featured_image" img_size="full" css_animation="fadeInUp" css=".vc_custom_1677866370177{margin-bottom: 0px !important;}"][/vc_column][/vc_row][vc_row full_width="stretch_row_content_no_spaces" equal_height="yes" el_class="fdinfoRow"][vc_column width="1/2" el_class="fdTopcol-left" css=".vc_custom_1676223004572{background-color: #f2f2f2 !important;}"][vc_custom_heading text="PROPERTY INFORMATION" font_container="tag:h3|text_align:left" use_theme_fonts="yes" css_animation="fadeInUp" el_class="infoSignleTitle"][vc_column_text css_animation="fadeInUp" el_class="fdInfoText"]Location 7- State Portfolio Address 5802 Annapolis Rd Property Type Garden Style Description Suburban Multifamily Property Size 3,240 units Portfolio Acquisition Date Aug-12 Investment Strategy Opportunisitc / Value-Add Total Capitalization $145,000,000 Total Eqiuty ~$54m Disposition Date 2016 Disposition Value $236,000,000 [/vc_column_text][/vc_column][vc_column width="1/2" el_class="fdTopcol-right fdImgGrid" css=".vc_custom_1676392206416{margin-top: 20px !important;}"][vc_row_inner equal_height="yes"][vc_column_inner width="1/2"][vc_single_image image="951" img_size="full" css_animation="fadeInUp" css=".vc_custom_1688666755167{margin-bottom: 0px !important;}" el_class="imgW100"][/vc_column_inner][vc_column_inner width="1/2"][vc_single_image image="952" img_size="full" css_animation="fadeInUp" css=".vc_custom_1688666778022{margin-bottom: 0px !important;}" el_class="imgW100"][/vc_column_inner][/vc_row_inner][vc_single_image image="953" img_size="full" css_animation="fadeInUp" css=".vc_custom_1688666814607{margin-bottom: 0px !important;}" el_class="imgW100"][/vc_column][/vc_row][/vc_section][vc_section full_width="stretch_row" css_animation="fadeInUp" css=".vc_custom_1689707958438{margin-top: 20px !important;margin-bottom: 20px !important;background-color: #0d0733 !important;}" el_class="developerInfoImg"][vc_row equal_height="yes" content_placement="middle"][vc_column width="1/4"][vc_single_image image="1557" img_size="full" alignment="right" css_animation="fadeInUp"][/vc_column][vc_column width="1/4"][vc_single_image image="1841" img_size="full" alignment="right" css_animation="fadeInUp"][/vc_column][vc_column width="1/4"][vc_single_image image="1845" img_size="full" alignment="right" css_animation="fadeInUp"][/vc_column][vc_column width="1/4"][vc_single_image image="1846" img_size="full" alignment="right" css_animation="fadeInUp"][/vc_column][/vc_row][/vc_section][vc_section][vc_row full_width="stretch_row_content_no_spaces"][vc_column][vc_single_image image="1568" img_size="full" alignment="center" css_animation="fadeInUp" el_class="imgW100 cviMap pt-4 pr-2 pl-2"][/vc_column][/vc_row][/vc_section][vc_section disable_element="yes"][vc_row full_width="stretch_row_content_no_spaces"][vc_column][vc_gmaps link="#E-8_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" css_animation="fadeInUp" el_class="googlemapFd"][/vc_column][/vc_row][/vc_section]